✨ Earnings season has kicked off: A mix of profit growth and varying expectations.

🔹 Third-quarter results for US banks have started to roll in. The figures from JPMorgan, Goldman Sachs, and Wells Fargo offer key signals regarding the sector's overall outlook.

📊 Reported figures:
🔹 JPMorgan Chase: Net profit rose 6% to $15.3 billion. Earnings per share (EPS) came in at $5.57, missing the expected $5.90. Weakness in interest-related revenue was highlighted.
🔹 Goldman Sachs: Net profit surged 29% to $5.29 billion. EPS reached $17.01, significantly outperforming the expected $12.53. Annualized return on equity stood at 18.7%.
🔹 Wells Fargo: Net profit rose to $6.0 billion, beating expectations. EPS was $1.87, surpassing the forecast of $1.84. However, revenue fell short of expectations, coming in at $21.87 billion.

⚖️ Structural perspective:
The banks' results reflect how they are responding to the interest rate environment and capital market activity. Goldman Sachs' strong performance points to a recovery in investment banking and trading revenues, whereas weakness in JPMorgan's lending operations suggests that market dynamics are squeezing profitability in certain areas.

Meanwhile, the slowdown in Wells Fargo's revenue indicates that pressure on net interest margins persists. These results serve as a reference point for other alternatives to be announced later in the season.

💬 In banking policies, are you focusing primarily on profit growth or revenue quality? 👇

#BankEarnings #JPMorgan #GoldmanSachs #WellsFargo #Macro

Not financial advice.